Wellington Management Group LLP Raises Position in Cactus, Inc. $WHD

Key Points

• Wellington Management Group LLP increased its stake in Cactus, Inc. (NYSE: WHD) by 12.1% in the 1st quarter, resulting in ownership of approximately 1.89% of the company, valued at $69.1 million.
• Cactus, Inc. reported earnings of $0.66 per share in its last quarterly results, which missed the anticipated estimate of $0.67, and its revenue decreased by 5.8% year-over-year.
• The company recently announced an increase to its quarterly dividend from $0.13 to $0.14, representing an annualized dividend yield of 1.3%.

Wellington Management Group LLP increased its position in shares of Cactus, Inc. (NYSE:WHD - Free Report) by 12.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,508,103 shares of the company's stock after buying an additional 162,374 shares during the quarter. Wellington Management Group LLP owned about 1.89% of Cactus worth $69,116,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in WHD. Dimensional Fund Advisors LP increased its holdings in shares of Cactus by 3.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,238,420 shares of the company's stock valued at $72,271,000 after acquiring an additional 43,237 shares in the last quarter. Northern Trust Corp grew its position in Cactus by 10.4% in the 4th quarter. Northern Trust Corp now owns 724,891 shares of the company's stock valued at $42,305,000 after purchasing an additional 68,473 shares during the period. Pacer Advisors Inc. increased its stake in Cactus by 10,002.6% during the 1st quarter. Pacer Advisors Inc. now owns 458,053 shares of the company's stock valued at $20,993,000 after purchasing an additional 453,519 shares in the last quarter. Fort Washington Investment Advisors Inc. OH raised its holdings in Cactus by 8.2% during the first quarter. Fort Washington Investment Advisors Inc. OH now owns 393,801 shares of the company's stock worth $18,048,000 after buying an additional 29,850 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of Cactus by 2.3% in the first quarter. Principal Financial Group Inc. now owns 365,477 shares of the company's stock valued at $16,750,000 after buying an additional 8,164 shares in the last quarter. Institutional investors own 85.11% of the company's stock.

Cactus Stock Performance

NYSE WHD traded down $0.6760 during trading on Monday, hitting $41.6640. 451,087 shares of the company's stock traded hands, compared to its average volume of 793,915. The stock has a market capitalization of $3.33 billion, a price-to-earnings ratio of 15.72, a PEG ratio of 3.98 and a beta of 1.48. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.48 and a current ratio of 4.85. The business has a 50 day moving average of $43.19 and a 200-day moving average of $44.43. Cactus, Inc. has a 12-month low of $33.80 and a 12-month high of $70.01.

Cactus (NYSE:WHD - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.01). Cactus had a net margin of 16.19% and a return on equity of 17.34%. The company had revenue of $273.58 million during the quarter, compared to analysts' expectations of $280.28 million. During the same quarter last year, the firm posted $0.81 earnings per share. Cactus's revenue for the quarter was down 5.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Cactus, Inc. will post 3.08 earnings per share for the current fiscal year.

Cactus Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Friday, August 29th will be paid a dividend of $0.14 per share. This is an increase from Cactus's previous quarterly dividend of $0.13. This represents a $0.56 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Friday, August 29th. Cactus's dividend payout ratio is presently 19.62%.

Analysts Set New Price Targets

WHD has been the subject of several recent research reports. Wall Street Zen downgraded shares of Cactus from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. Stifel Nicolaus decreased their price target on Cactus from $57.00 to $53.00 and set a "buy" rating for the company in a report on Friday, August 1st. JPMorgan Chase & Co. reduced their target price on Cactus from $52.00 to $50.00 and set a "neutral" rating for the company in a report on Wednesday, May 28th. Finally, Barclays reiterated an "overweight" rating and set a $52.00 price target (down from $53.00) on shares of Cactus in a report on Monday, August 4th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $50.75.

Cactus Profile

Cactus, Inc, together with its subsidiaries, designs, manufactures, sells, and leases pressure control and spoolable pipes in the United States, Australia, Canada, the Middle East, and internationally. It operates through two segments, Pressure Control and Spoolable Technologies. The Pressure Control segment designs, manufactures, sells, and rents a range of wellhead and pressure control equipment under the Cactus Wellhead brand name through service centers.